Morning Report

The pair is trading yesterday in a sharp manner within the minor ascending channel for the organized bullish wave from the downside channel's support level towards its resistance, appearing through the image above. The MA 50 continues its negative pressure, alongside the negative pressure appearing through stochastic. Thus, we expect to witness some bearish intraday trend initially towards the minor support channel at 1.3090 before insuring that the key bearish trend continuing, or resuming the journey towards key channel's resistance at 1.3390. Note that trading today as we await unemployment data to be release from the US economy.

The trading range for today is among the key support at 1.2990 and the key resistance at 1.3390.

The short term trend is to the upside as far as 1.2795 remains intact with targets at 1.5135.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.3245 targeting 1.3100 and stop loss above 1.3320, might be appropriate.